kaal:claim:1558614-006

Although the business judgment rule is articulated differently in the two countries and German law leaves somewhat more room to challenge risky decisions, in both the United States and Germany the rule is highly protective of corporate managers.

the business judgment rule is articulated differently in the United States and in Germany, and there may be more latitude to challenge some risky decisions in Germany, but in both countries the rule is highly protective of corporate managers

Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010), I.B. The Issues Confronting the United States and Germany, p. 10
https://ssrn.com/abstract=1558614 · source PDF

Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1558614

empiricalsupport: arguedcorporate-governancelaw-and-legal-systems

• supported_by kaal:claim:kaal-2013-acomparativeperspectiveo-012 Under German law, directors' business decisions lose the protection of the business judgment rule where the bu...
• generalizes kaal:claim:kaal-2013-acomparativeperspectiveo-013 German commentators, whose expertise German courts rely on heavily, concluded after the financial crisis that ...
• generalizes kaal:claim:5583610-032 Using LER to secure say-on-pay support falls within Delaware's business judgment rule, which presumes good fai...
• extended_by kaal:claim:kaal-2013-acomparativeperspectiveo-018 The different legal standards for allocating liability in Germany and the United States illustrate rather diff...
• generalizes kaal:claim:kaal-2013-acomparativeperspectiveo-017 Despite the limits of the comparison, had In re Citigroup and Disney been decided in Germany the allocation of...

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